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Business Roundup

July 3, 2017 | APPEARED IN VOLUME 95, ISSUE 27

Chevron Phillips Chemical has named Mark Lashier, currently its executive vice president of commercial operations, as its next CEO, effective Aug. 1. He replaces Peter Cella, who is retiring after leading the firm for more than six years, during which it embarked on a $6 billion expansion program in Texas.

Agrium and PotashCorp have chosen Nutrien as the name of their planned combined firm. The Canadian fertilizer giants hope to complete the merger in August.

Frutarom Industries has purchased 80% of SDFLC Brasil Indústria E Comércio for $33 million. SDFLC, a Brazilian maker of flavors for ice creams and desserts, has annual sales of about $22 million.

DuPont Pioneer has obtained exclusive rights to the CRISPR/Cas patent portfolio of ERS Genomics covering all agricultural uses and applications in plants. ERS was cofounded by CRISPR coinventor Emmanuelle Charpentier.

Mitoconix Bio has raised $20 million in a series A financing round. Founded last year in Israel, Mitoconix is developing MTC-1203, a therapeutic peptide that treats neurodegenerative diseases by inhibiting excessive mitochondrial division.

Shin-Etsu Chemical will spend about $44 million to double rare-earth magnet capacity at its plant in northern Vietnam. Shin-Etsu built the plant in 2012 after a surge in the price of rare earths stemming from export restrictions by China, the world’s largest rare earths producer.

Merck KGaA will add its chemical products to Elsevier’s Reaxys chemistry database. The deal adds data on 43,000 Merck life sciences chemicals to the store of more than 100 million organic, inorganic, and organo­metallic compounds in Reaxys.

Tetraphase Pharmaceuticals has chosen Patheon to produce eravacycline, a fluorocycline antibiotic it is developing for multi-drug-resistant infections. Patheon will manufacture the active pharmaceutical ingredient at its plants in Greenville, N.C., and Ferentino, Italy.



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